Unifying loans makes it easy to group all your loans into one. If the sum of all the installments you must pay and pay at the end of the month is very high, the unification of the same can alleviate this situation, although the cost will not be free.
When you unify loans , you will pay a single installment in which all debts incurred will be included. Thus, the unification of loans will mean that at the end of the month, the total installment to be paid will be reduced by half. Unifying loans will include all expenses in a single installment. The unification of loans or reunification of debts consists in unifying loans all the credits that you have in only one, which is usually a mortgage loan for your lower interest. The objective of this operation is to reduce the monthly payment and make it easier to treat the debt.
The reunification of debts allows you to unify loans and other debts in a single installment, which can mean a reduction of up to 70% in your monthly payments. This is possible since all the loans in which lower interest is collected are grouped and, in addition, and this is the most important thing, the repayment period is usually extended. In general terms, the monthly fee is reduced but at the cost of increasing the total money that will be paid for the loan . That is, less will be paid each month but at the end of the life of the loan we will have the amount paid will be higher.
To whom it is recommended to unify loans :
The unification of loans is recommended to all those families who have difficulties to make ends meet , or who need liquidity for a reform, vehicle, etc. Even though the economic crisis has not come to an end. Family economies continue to suffer more than usual and many seek new ways to solve their financial problems. One piece of advice is to unify loans, although first you have to study when it is profitable to reunify .
With this operation to unify loans , any family that wants to unify loans and their payments, will have more time to pay the loans that they have and they will be able to spend much more comfortably each month, taking into account that many people have had their income reduced or someone of the family unit has lost the job. But, in general, this financial operation of unifying loans is beneficial for anyone.